Despite Media interpretation the London and St.Thomas Market is still very active. With daily listings being posted in numbers (60-120 depending on the day, 112 today) and properties closing on regular basis (62 today), buyers and seller are indeed active.

NEW DEVELOPMENTS UNDER PERMIT• 1331 Hyde Park Rd.: The second and final phase of the Bieren Westfield subdivision by Kenmore Homes consists of 97 single detached lots on the south side of Coronation Drive, north of the Canadian Pacific Railway on the east side of Hyde Park Road.

• 1284 and 1388 Sunningdale Rd. W.: The first phase of the Fox Hollow North Kent Developments subdivision is for 69 single detached lots.

• 995 Fanshawe Park Rd. W.: The proposed 111 single detached lots by Landea Development Inc. will have access from the extension of Tokala Trail, Medway Park Drive and Silverfox Drive.

• 3493 Col. Talbot Rd.: The first phase of the Silverleaf subdivision is 108 single-family lots, on the south side of Pack Road, west of Col. Talbot Road. The site is approximately 40.5 hectares.

Not only did 2015 see a best June ever for real estate sales in the jurisdiction of the London and St Thomas Association of REALTORS®, now it’s seen the best September ever! A total of 840 homes sold in September 2015, up 23.2% overall from September 2014. "Year-to-Date we’ve clocked 7,513 transactions," says Carl Vandergoot, LSTAR President. "That's an increase of 10.8%."

Listings were down 2.7% for detached homes, but up 9.4% for condos last month. Active listings end of period – inventory – were down 9.5% for detached homes and up 4.6% for condos. "This September 150 condos were sold. Given that the five year average for September condo sales is 137, last month's figures are pretty much in line with what we expected," says Vandergoot. "It's the market for detached homes that seems to be tightening. If I were thinking of selling a detached home, now is when I'd put it on the market."

September was also the best September for St. Thomas since LSTAR started breaking out that City's sales statistics in 2006. 77 homes sold in St. Thomas in September 2015. The average price of a home in that City Year-to-Date stands at $219,292, up 9.7%.

The best-selling house style in LSTAR's jurisdiction for September 2015 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year-to-Date stood at $282,241, up 4.3%, while the average price for a condo over the same period stood at $191,197, up 4.6%. Year-to-Date the average price of all homes sold through LSTAR's MLS® stood at $264,791, up 4.2%.

Disclaimer=============**Data Sourced from the London St-Thomas board of Realtors *All opinions are our own. Curator not liable for decisions made as a result of this information if not directly representing under a documented client relationship.

Another Real Estate Market Update from your friends at theClosers.ca. Been a busy 2014 across the board and things are looking bright for 2015. As always if you want any specific info just post in the comments below and we'll be happy to source it for you!

"A total of 475 home sales took place in December, making the last month of 2014 not only the best December since 2006, but also the eighth straight month in a row in which area home sales outstripped those of the previous year:

May by 5%June by 23.4%July by 24.4%August by 13.6%September by 11.1%October by 8.4%November by 4.7%December by 14.7%"A total of 8,521 homes sold in 2014, the highest number since 2007, just prior to the global financial meltdown that impacted housing markets in both Canada and the United States," explains Carl Vandergoot, the 2015 President of the London and St. Thomas Association of REALTORS®. "It's been seven lean years, but our market is definitely showing signs of a strong, steady and sustainable recovery."

Also up for the year were listings - a total of 16,492 homes were listed in 2014, up 3.7% - while inventory - active listings at the end of period - was down a marginal 0.5%. Throughout 2014 the market remained balanced.

The average price of a home in the Association’s jurisdiction for the year stands at $254,141, up 3.4% over what it was on December 31, 2013.

The best-selling house style in LSTAR's jurisdiction for 2014 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. "These stats are good news not just for REALTORS® but for our local economy as a whole," says Vandergoot. "According to research by the Altus Group, one job is created for every three real estate transactions and approximately $55,000 in ancillary spending is generated every time a house changes hands in Ontario. Do the math. You'll be impressed."

2014 also proved a good year for London's Sister City of St. Thomas. "As was the case with London, the best year for home sales in St. Thomas was 2007, when 867 homes exchanged hands," says Vandergoot, "while its second best was 2014, when 708 homes sold." Forty homes sold in St. Thomas in December, making it the best December for that City in the past decade, second only to 2011. The average price for a home in St. Thomas in 2014 stood at $199,885, a marginal 0.8% lower than that of 2013.

The average price for all homes in the London and St. Thomas area for the month of December stands at $252,746. The following chart, based on data taken from CREA's National MLS® Report for November 2014 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.

We just wanted to take a brief moment to update you with the most recent market stats relating to the London & St.Thomas Area. Whilst everyone was wrapping gifts, shovelling out of snow squalls we were busy woking away to ensure our part in the Winter Real Estate rush. The year ended strong and despite the naysayers in the media the housing market was able to set some great numbers and it carried right through the winter. January is looking to be ripe for the industry and expect February to continue the trend.